Compan>. registration number. 1397407
Chariry registraiion number= 514172
North Staffordshire Railway Company
(1978) Limited
{A company limited by guardntee)
Annual Report and Financial Statemenls
for the Year Ended 31 December 2023
P L Whittaker
50 Broad Street
Leek
Staffordshire
ST13 5NS

Nortb Staffordshire Railw'ay Companv (1978) Limited
Contents
Reference and Athninistrative Details
Truslee5' Report
2to3
Independen¢ examinerfs report
Statement of financial aclivities
Balance Sheet
6t07
Notes to the financial statements
8t0 13
The following page does noi forni pan of the statutory financial statements:
Statement of financial activilies per fund
14

North Staffordshire Railw'ay Compan!. (1978) Limited
Reference and Administrative Details
Charity name
North Staffordshire Railway Company (1978) Limited
Ch8ril) regislration number
514172
Company registration number
1397407
Printipal office
Cheddleion Station
Cheddleton
Leek
Staffordshire
ST13 7EE
Registered 0￿•¢¢
Cheddleton Station
Cheddleion
Leek
Staffordshi
ST13 7EE
Trustees
N Moorby, Chairn)an
A L Croft, Secretary
G I Chapman, Treasurer
BCDunn
J Huls¢
JAKeTr
Bankers
Barcla>s Bank plc
8i Ha)wood Street
Leek
Staffordshire
ST13 5JW
Accountant
P L WhittaK"er
50 Broad Street
Leek
Staffordshire
ST13 5NS
Page

orth Staffordshire RailTrTr'av CompaDTr (1978) Limited
Trustees, Report
The trustees are pleased io present their annual report together with ihe unaudited financial statements for the
year ended 31 December 20?3. which are also Prepared (o meet the requirements for a direclors. report and
accounts for Companies Act purposes.
The financial sialemenis comply N'ith the CharÉties Act ?0 I I, the Companies Act ?006. Ihe Memorandum and
Articles of Association: and the Statement of Recommended PrdCtice- Accountlng and Reportin8 by Charities.
Our Purpose and Activities
The purp(vses of the charity are:
The preservalton. retainmeni. and restoration of Cheddleton Railway Station by encourdging and promoling
public interest in the preservation of steam and other railway locomotives. rolling stock and items of historic
interest.
Achievements and performance
The company has continued to rdiS¢ funds from membership fees, grnnts, donations, and sundry income. Further
suppon has been received from appeals and Gift Aid.
The profile of the members magazine. The Knotty. has been maintained. The company has continued to support
the Churnet Valley Railway, having hosted appeals for the purchase of heritage rolling st(Kk and improvements
to the infrastructure of the railway.
Structure? governance and management
The North Staffordshire Railwa>' Company (1978) Limiied is a company limiied by guarantee, governed by its
Memorandum and Articles of Association. li is registered as a charity with the Charity Commission. There are
cutTenily 602 membet5. each of ￿'horn agrees to contribute £ l in the event of the charit), winding up.
The Chair of trustees. secretary. and treasurer are elecled b!¥ members at the Annual Generdl Meeting each year.
Other trustees are elected for three )ears by members at the Annual General Meeting. When considering
cfropting Injsiees, the board h&5 regard to the requirements for any specialisi ski115 needed.
All major decisions are taken at full meetings of the trusiee5. These are held monthly.
The charity has a close relationship wilh the Churnei Valley Railway (1992) PLC. The principal activity of the
company is to be a tourisl steam rai1￿.a},.
Finan¢i81 review
The company's statement of financial activiiies showed a surplus for the year. We have total reserves of
£381.194. Cash reserves total £63.213. of M'hich £42.946 is reserved for specific projects.
Trustees re5ponsibilitie5 in relation to the financial Statements
The charity trust¢¢s (who are also directors of the North Staffordshire Railway Company (1978) Limited for the
purposes of company law) are responsible for preparing a trustees. annual reFX)rt and financial statemen15 in
accordance with applicable law and United Kingdom Accouniing Sthndards (United Kingdom Generdlly
Accepted Accounting Practice}.
Company law and the law applicable to charilies in England and Wales requires the charity trustees to prepare
financial statements for each )'ear which give a true and fair view. of the slate of affairs of the charitable
company and of the incoming resources and application of resources for thai period, In preparing the financial
stalements. the trusiees are required to:
select suitable accounttng policies and then apply them consistently;
observe the methods and principles in the Charities SORP.
Page 2

North Stafford8hire Railwa) Companv (1978) Limited
Trnstees, Report
mak'e judgements and estimates that are reasonable and prudent:
state whether applicable accouniing swidards have been followed, subject to any material deparnires disclosed
and explained in the financial sthtements.
prepare the financial statements on the going concern basis unless it is inappropriate io presume that the charity
will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with r¢asonable accuracy at any
time Ihe financial position of ihe charity" and io enable them to ensure that the financial ststements comply with
the Companies Act ?006, the Charity Act 201 I, the Charity (Accounts and Reports) Regulations 2008 and the
provisions of the trusi deed. They are also responsible for safeguarding the ￿Sets of the charity and hence taking
reasonable steps for the preveniion of fraud and other I￿egularl11e5.
Small Company provisions
This report has been prepared in accordance with the small companies regime under the Companies Acl ?006.
Approved by the Board on 13 September 2024 and signed on its behalf by:
N Moorby
Trustee
Page 3

Independent Examiner's Report to the Trustees
North Staffordshire Railw'ay Company (1978) Limited
I report on the accounts of the company for the year ended 31 tkcember 2023. which are set oui on pages 5 to
13.
Respective responsibilities of trustees and examiner
The trustees (who are also the directors of the companj for the puryx)ses of company law} are responsible for the
prepardtion of the accounts. The trusiees consider that an audit is not required for this year under section 144(2)
of the Charities Act 2011 (the 201 l Act) and that an independent examination is needed.
Having satisfied rnyself that the charity is noi subject to audit under company law and is eligible for independent
exarninatiorn il is my responsibility to:
examine the accounts under Section 145 of th¢ 2011 Act.
follow the procedures laid in the General Directions given by the Charity Commission under
seciion 145 (5) (b} of the ?0 I l Act- and
state ￿'hether particular matters have come lo m). attention.
Basis of independent examiner's report
My examinalion was carrted out in accordance with the Generdl Directions given by the Charity Commission.
An examinaiion includes a review of the accounting record5 kepi by the charity and a comparison of the
accounts presented M'ith those records. It also include5 consideration of any unusual items or disclosures in the
account5. and seeking explanations from you as trustee5 concerning any such matters. The procedures
undertaken do nol provide all the evidence thai would be required in an audit and consequently no opinion is
given as 10 whether the accounts present a 'true and fair view and the report is limited to those matters set out in
the sthiement below..
Independent examiner's ststement
In connection with my examination, no matter has come to my atteniion:
( l ) which gives me reasonable cause to believe that in any malerial respeci ihe requirements:
to keep accounting records in accordance with section 386 of the Companies Aci 2006; and
to prepare accounts which accord w'ith the accounting records. comply with the accounting
requirements of section 396 of the Companies Act ?006 and ii'ith the methods and principles
of ihe Statement of Recommended Practice: Accounting and Reporting by Charities
have not been mei: or
(2) to which. in m%, opinion. attention should be in order to enable a proper understanding of the
accounts to be reached.
50 Broad Street
Leek
Stsffordshire
ST13 5NS
Peter Lee WThittaker
P L Whittak¢r
13 September ?024
Page 4

North Staffordshire Railway Compan). (1978) Limited
Statement of Financial Activities (including Income and Expenditure Account) for the
Year Ended 31 December 2023
Unrestricted Total Fund5
Funds
2023
Tot81 Funds
2022
Note
Incoming resources
Incoming? resources from generated funds
Voluntary income
Other incoming resource5
Total incoming resowces
68.120
68,1?0
54,311
85,000
139.311
68.120
68.120
Resourees expended
Costs of generaiing funds
Costs of generating voluniary income
Other resources expended
Total resources expended
66.398
66.398
24,160
100.585
124,745
66.398
66.398
Net movements in funds
1.722
,722
14,566
Reeoneilialion of funds
Total funds brought forward
Total funds carried forward
379.472
381.194
379.47?
381.194
365.820
380,386
The notes on pages 8 to 13 forn) an integral part of these financial slatements.
Page 5

North Staffordshire Railwai, Company (1978) Limited (Registration number: 1397407)
Balance Sheet as at 31 December 2023
2023
2022
Note
Fixed assets
Tangible assets
Investments
187.690
75.632
263,322
188,986
66.632
255.618
Currenl assets
Stocks and work in progress
Debtors
Cash at bank and in hand
55
120.418
55
130.527
48,5?6
179.108
io
183.686
Creditors: Amounts falling
due wilhin one year
(58.142)
(46,668)
Net eurrent a55els
125.544
13?.440
Total 8sse¢s less ¢urrent
liabilities
388,866
388,058
Credttors: Amounts falling
due 8fter more than one year
12
(7,672)
(7.672)
Net 8ssets
381.194
380.386
The funds of the ¢h2rity:
Unrestricted funds
Other reserves
Unrestricted income funds
Total unrestricied fund5
26.444
354,750
381.194
27,356
353.OiO
380.i86
Total charity funds
381,194
380.386
The notes on pages 8 to 13 forni an integral part of these financial statements.
Page 6

North Staffordshire Railway Compan!. (1978) Limited (Registration number 1397407)
Balance Sheet as at 31 December 2023
conlinued
For Ihe financial year ended 31 tkcember 2023. the charity was entiiled to exemption from audit under sedion
477 of the Companies Act ?006 relating io small companies.
The members have not required the charity lo obiain an audit of its accounis for the year in question in
accordance with Section 476.
The directors acknowledge their responsibilities for complying with the r¢quirements of the Act with respect to
accounting records and the preparation of accounts.
Th¢se accounts have been prepared in accordance with the provisions applicable to companies subject to the
small companies regime and with the Financial Reporting Siandard for Smaller Entities {effectiYe April 2008
January 2015).
Approved by the Board on 13 September 2024 and signed on its behalf by:
N Moorby
Trusiee
The notes on pages 8 10 13 forni an integral part of these financial statements.
Page 7

North Staffordshire Railw'a). Company (1978) Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance wilh
the Sfalemeni of Recommended Praclice 'Accounting and Reporting by Charities (SORP ?005)', issued in
March 2005. the Financial Rewrting Standard for Smaller Eniities {etTective January 2015) and the
Companies Act 2006.
Fund accounting policy
Unrestricted income funds are general funds that are available for use at the trustees. discretion in
furtherdnce of ihe objectives of the charity.
Further details of each fund are disclosed in note 15.
Incoming resources
Voluniary. income including donaiions and legacies TS recognised where there is entitlement, certainty of
receipi and (he amouni can be me&sured with sufficieni reliabilit)..
Incoming resources from lax reclaims are included in the sialement of financial activities at the same lime
as the gift to which the). relate.
Resources expended
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the
expenditure. All expendinwe is accounied for on an accruals basis and has been cl&ssified under headings
thal aggregate all costs relaied to the category.
Costs of generdling fimds are the costs associated with attrdcting voluntary income.
Support Costs
Support costs include central functions and have been allocated to activity cosl caiegories on a basis
consisteni wtth the use of resources. for example. allocating property costs by floor areas. or per capita,
staff costs by the time spent and other costs by their usage.
Irrecovergble VAT
Irrecoverdble VAT is charged againsi the category of re50UTces expended for which it was incurred.
Fixed assets
Individual fixed assets Costing £0 or more are initially recorded ai cost.
Depreciation
Depreciation is provided on iangible fixed assets so as to IlTite off the cost or valuation. l¢ss any estimated
residual value. over their expec*d useful economic life as follows:
Land and Loco Shed
Building Restoration
Rolling Siock
Track Work
Equipment
2 % straight line basis
,'0 Straight line basis
50/0 reducing balance basis
50/0 straight line basis
IIY/o reducing balance
Page 8

Iyorth Staffordshire Railm'ay Company (1978) Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
. eoniinued
Inveslments
Fixed assel inveslments are included at market value ai the balance sheet dale.
Realised gains and losses on investments are calculated as the difference between sales proceeds and their
market value at the start of the year. or their subsequ¢nl cost. and are charged or crediled io the stalemeni
of Ihe financial aaivilies in ihe peri(Kt of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or
charged to the stsiement of fuwicial activities based on the market value at the year ent
Stock
Stock is valued at the lower of cost and nel realisable value, after due regard for obsolele and slow moving
stocks. Nei realisable value is based on selling price less anticipated costs to compleiion and Selling costs.
Items donated for resale or distribution are nol included in the financial statements until they are sold or
distributed.
Voluntary ineome
Unrestricted Tol81 Funds
Funds
2023
Total Funds
2022
Donations and legacies
Legacies
General donations
Gift Aid lax reclaimed
Subscriptions
Other donations
Inlerest received
248
54.011
3.401
8.845
1.613
248
54.011
3,401
8.845
1,613
24.814
8.544
9.559
11.393
68.120
68.120
54.311
Grants receivable
Unrestricled Total Funds
Funds
2023
Tolal Funds
2022
Grants - other agencies
85,000
Page 9

North Staffordsbire Railway Company (1978) Limited
Notes to the Financial Statements for tbe Ye8r Ended 31 December 2023
Continued
Other incoming resources
Unrestricted Total Funds
Funds
2023
Totsl Funds
2022
Other income
Grants - other agencies
85.000
Total resources expended
Don4tion5
and legacies
Total
Direc¢ Costs
Fundraising costs
Other fundraising costs
Depreciation of tangible fixed assets
OITice expenses
Subscriptions and donations
2.91?
43.607
8.414
45?
7.047
62.432
2.912
43,607
8.414
452
7.047
62,432
Support costs
Sundry and other costs
3.966
3,966
66.398
66,398
Net income
Net income is stated after charging:
2023
2022
Depreciation of tangible fixed assets
8.414
7,116
Taxation
The company is a regislered charity and is therefore. exempt from L￿ation.
Page 10

North Staffordshire Railwa), Companv (1978) Limited
Notes to the Financial Statements for tbe Year Ended 31 December 2023
con¢inued
Tangible fixed assets
Building
Rolling Stock Restoration &
elc.
Track
Land & Loco
Shed
Total
Cost
As al l January 2023
Additions
As at 31 December 2023
50.1)44
165.592
7.119
172,711
112,5?8
328.164
7.119
335,283
50.044
112,528
Depreciation
As ai l January 2023
Charge for the year
As at 31 December 2023
18,488
43.396
2.315
45.711
139,180
8.413
147.593
5.098
82.394
19.488
Net book value
As al 31 Decern￿r 2023
As at 31 December 2022
30.556
31,556
90.317
88.296
66.817
187.690
188.984
Investments held as fixed assets
Churnet V4lley
R8ilwa)' (1992)
pl¢
Market value
As at l January 2023 and 31 December 2023
75,632
Net book value
As ai 31 December ?023
75.632
75.632
As at 31 December 2022
All investment assets were held in the UK.
Page 11

North Staffordshire Raikn'av Companv (1978) Limited
Notes to tbe Financial Statements for the Year Ended 31 December 2023
conlinued
10 Debtors
2023
2022
Trade debiors
Other debtors
119,273
1,145
120.418
130,527
130,5?7
I I Creditors: Amounts falling due within one vear
2023
2022
Trade creditors
Accruals and deferred income
58.042
100
58.142
45,327
1.341
46.668
12 Creditors: Amounts falling due after more than one )'ear
2023
2022
(hher credilors
7,672
7,672
13 Members, liability
The charity 15 a private company limited bN' guaraniee and consequently does not have share capital. Each
of ihe members is liable lo contribute an amount noi exceeding £nil towards the assets of the charity in the
evenl of liquidation.
Page 12

North Staffordsbire Railwa) Company (1978) Limited
Notes to the Financi81 Statements for the Year Ended 31 December 2023
. continued
14 Related parties
Controlling entity
The charity is controlled by the truslees who are all direciors of the company.
15 Analysis of funds
Atl
January
2023
At31
December
2023
Incoming
resources
Resources
expended
General Funds
Unrestricted income fund
379.472
68,120
(66.398)
381.194
16 Net assets by fund
Unrestricted
Funds
Total Funds
2023
Tot81 Funds
2022
Tangible assets
nvestments
Current assets
Creditors: Amounts falling due within one year
Credilors: Amounts falltng due after more than
one year
Nei assets
187.690
75.63?
18i.686
(58.14?)
187.690
75.632
183.686
(58.14?)
188.986
66.632
179.108
(46.668)
{7.672)
381.194
(7.67?)
381.194
(7.672)
380.386
Page 13

North Staffordshire Railw'ai. Company (1978) Limited
Statement of financial activities b). fund Year Ended 31 December 2023
Unrestricted Unrestricted
income fund
income fund
2023
2022
In¢oming resources
Incoming resources from generated funds
Voluntary income
Other incoming resources
Total incoming resources
68,120
54.311
85.000
139,311
68.1?0
Resources expended
Costs of generating fund5
Cosls of generating voluntary income
Other resource5 expended
Totsl resourc¢5 ¢xpended
66.398
24,160
100.585
124.745
66.398
Net movements in funds
,722
14.566
Reconciliation of funds
Total funds brought forward
Total fund5 Ca￿led forward
379.472
381.194
365.820
380.i86
This page does not forni part of the statutory financial staiements.
Page 14